Rainbow colored ribbon of light in the sky? What did I see?

A few years ago I saw a rainbow coloured ribbon of light in broad daylight. Clear day as in no clouds.
(My question is, What did I see?)
I don’t know what the ribbon of light was, it clearly seemed transparent (My closest guess is that it was an aurora or something to do with solar charged particles entering the atmosphere).
But what created doubt was that it was only in one spot, broad daylight. Size would be roughly close to a plane quite high up in the air.
It seemed like an aurora because it was slightly moving like a ribbon in the wind.
The location was near Shanghai in China. Season was approximately spring.
I don’t know if there are aurora’s in that location, especially in broad daylight and at a minute scale compared to ones I’ve seen in videos.
I live in Australia so I have never seen the northern lights before.
It also seemed like a mystical colored dragon swaying in the air.
I saw a video on youtube and it looked closely related to the following videos:
http://www.youtube.com/watch?v=No67e3l4Hyc
The first video resembled it more, it clearly had an aurora like appearance but was in one location at the whole time.
http://www.atoptics.co.uk/
This site is called Atmospheric Optics. There are some very good pictures of what you saw even on their home page. For every atmospheric effect, they give you a very good scientific reason telling you exactly why you see what you see. This is one of my very favorite websites ever but I want to warn you that you can spend hours here looking at all the incredible things and it will only seem like a few minutes. I hope that you enjoy this as much as I do.